Cameron and Tyler Winklevoss, co-founders of cryptocurrency exchange Gemini, said they had sent more than $21 million worth of Bitcoin to a political action committee (PAC) with the expressed intention of helping US President Donald Trump’s crypto agenda with a Republican majority in Congress.
In a Wednesday X post, Tyler Winklevoss said they contributed more than 188 Bitcoin (BTC), worth about $21 million at the time, to the Digital Freedom Fund PAC.
According to the Gemini co-founders, their goal with the contribution was to “support President Trump and his Administration’s efforts” related to crypto policy by attempting to influence the 2026 US midterm elections, support market structure legislation, and “fight for” other issues related to digital assets and blockchain.
“The Digital Freedom Fund will work with similarly aligned pro-crypto groups and look to identify and support other issues, like the de minimis tax exemption for Bitcoin [which grants tax-free status to gains under a certain amount] and other crypto transactions, that will unleash the potential of these technologies, our industry, and America,” said the Winklevosses. “And our private position will always be the same as our public position on these matters.”
The Bitcoin contribution came more than a year before the US is scheduled to hold its next significant federal elections, in November 2026. After losing majority control of the US Senate and many House of Representatives seats to Republicans in 2024, as well as the presidency, many Democrats have been looking at the next election to reclaim power.
According to records with the Federal Election Commission, the Digital Freedom Fund PAC was established on July 11 with treasurer Janna Rutland. She has reportedly been involved with several other PACs and organizations, including a nonprofit tied to former Republican presidential candidate Vivek Ramaswamy.
Related: Illinois governor blasts Trump’s ‘crypto bros’ in new bill signing
The Winklevosses also played a role in Trump’s 2024 election by donating about $2 million in Bitcoin to his campaign. The recent $21 million contribution was likely a nod to Bitcoin’s total supply, limited to 21 million coins.
They also personally contributed about $5 million to the Fairshake PAC, which spent more than $130 million supporting congressional candidates it considered “pro-crypto” and opposing those it said were “anti-crypto” in 2024. Fairshake said in July that it had raised $141 million to be used in US elections, including the 2026 midterms.
Is Gemini buying a seat at the table?
Following their public support and financial contribution to Trump’s 2024 candidacy, both Winklevoss brothers were invited to attend inauguration events and participate in a March White House crypto summit. The president acknowledged their support in July during a signing ceremony for the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which had been passed with bipartisan votes in Congress.
The Winklevosses also reportedly deepened their financial ties to Trump by investing in American Bitcoin, a crypto mining company tied to the president’s family.
Reports suggested that the Gemini co-founders broke with Trump’s crypto agenda by asking him to reconsider the nomination of Brian Quintenz for chair of the US Commodity Futures Trading Commission. The president nominated Quintenz in February, with both brothers initially supporting the move in social media posts.
The report dropped about a day after the Senate Agriculture Committee said the White House had requested a delay for consideration of Quintenz’s nomination. The move by the Winklevosses seemingly put them at odds with several crypto and blockchain organizations, who wrote a letter in support of Quintenz’s confirmation on Wednesday.
Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions